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Troubleshooting undeposited funds

 

 

 

The following guide is information delivered via a PowerPoint presented at our Empowered 2023 Conference. Formatting and images may be altered due to the conversion of presentation tools.

 
 

 

 

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The sum of items in the Undeposited Funds list should match the current balance of your Undeposited Funds account (usually g/l account 1999)

 

     

 

 

•         Problem: Sum of Undeposited Funds does not match Undeposited Funds g/l account balance


         Possible Cause: Manual adjustment (general journal entry) to undeposited funds g/l account

 

         Resolution: Review all journal entries to the undeposited funds account

 

         Problem: Sum of Undeposited Funds does not match Undeposited Funds g/l account balance


•        Possible Cause: Item was incorrectly marked as “Ignore” in Undeposited Funds list

        Resolution:

— Search for “Undeposited Funds”

— Modify filter Ignore = “Yes”

— Uncheck “Ignore” box for missing payment

— Does not match Undeposited Funds g/l account balance

 

 

 

 

 

 

 

 

 

 

 

 

 

         Problem Sum of Undeposited Funds does not match Undeposited Funds G/L account Balance

•        Possible Cause: Item needs to be marked as “Ignore” in Undeposited Funds list

 

         Resolution: 

          — Search for “Undeposited Funds”

— Check “Ignore” box for payment to remove

— Enter notes in Ignore Reason

 

 

*Note: A payment should not be ignored unless a corresponding reversal entry has been posted

 

 

 

 

 

 

         Problem: My gift payment is not shown in the Undeposited Funds list

•        Possible Cause: Gift payment encountered an error during Send to Accounting process

        Resolution:

— Open Gift Payment record in akoyaGO

— Review Payment Status Error Text field for details

— Correct error and repeat Send to Accounting

 

 

**A guide on different payment errors can be found here.

 

        Problem: My gift payment is not shown in the Undeposited Funds list, but Payment Status says “Received”

        Possible Cause: Gift payment is stuck in the “Akoya” general journal and needs to be posted

 

•       Resolution:

— Open Finance > General Journals. Choose the “Akoya” journal.

— Filter for the Payment No. in question

— Post the entry

Note: The akoya journal should be empty. If it contains entries, these should be addressed ASAP.

 

 

 

         Problem: My gift payment is not shown in the Undeposited Funds list

        Possible Cause: Item was incorrectly marked as “Ignore” in Undeposited Funds list

 

        Resolution:

— Search for “Undeposited Funds”

— Modify filter Ignore = “Yes”

— Uncheck “Ignore” box for missing payment

 

 

 

 

 

         Problem: There are items in the Undeposited Funds list that should not be there

         Possible Cause: Gift payment encountered an error during reversal process

         Resolution:

— Open Gift Payment record in akoyaGO

— Review Payment Status Error Text field for details

— Correct error and repeat reversal process

                                           •       Possible Cause: Gift payment reversal is stuck in the “Akoya” general journal and needs to be posted

                                           •       Resolution:

                                         — Open Finance > General Journals. Choose the “Akoya” journal.

                                         — Filter for the Payment No. in question

                                         — Post the entry

 

                                                                                                •         Possible Cause: Item was incorrectly reversed from the G/L Entries

                                                                                                •         Resolution:

                                                                                                — Search for “Undeposited Funds”

                                                                                                — Check “Ignore” box for payment to remove

                                                                                                — Enter notes in Ignore Reason

*Note: A payment should not be ignored unless a corresponding reversal entry has been posted

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